PART 3Format and duration of pig purchase contract

Format of a pig purchase contract

regulation 5 + 5.—(1) A pig purchase contract must—

regulation 5 1 a + (a)be in writing; and

regulation 5 1 b + (b)be signed by all parties to the contract.

(2) An electronic signature is sufficient to satisfy the requirement in paragraph (1)(b).

(3) An “electronic signature” is so much of anything in electronic form as—

regulation 5 3 a + (a)is incorporated into or logically associated with any electronic communication or electronic data; and

regulation 5 3 b + (b)purports to be so incorporated or associated for the purposes of being used in establishing the authenticity of the communication or data, the integrity of the data, or both.

Duration of pig purchase contract

regulation 6 + 6.—(1) A pig purchase contract must be—

regulation 6 1 a + (a)a fixed-duration contract; or

regulation 6 1 b + (b)an evergreen contract.

(2) A “fixed-duration contract” is a pig purchase contract that will terminate—

regulation 6 2 a + (a)on the expiry of a specific period; or

regulation 6 2 b + (b)on a specified date.

(3) An “evergreen contract” is a pig purchase contract that will continue until one of the parties terminates it.

(4) A pig purchase contract must state whether it is a fixed-duration contract or an evergreen contract.

(5) A pig purchase contract must specify the date on which the obligation to supply pigs commences, if this is different from the date on which it is signed.